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Fly News Breaks for February 12, 2020
Feb 12, 2020 | 06:04 EDT
Piper Sandler analyst Alexander Goldfarb downgraded Macerich (MAC) to Underweight from Neutral with a price target of $20, down from $26. Simon Property's (SPG) buyout of Taubman Centers (TCO) this removes any potential M&A support for Macerich in the near term, putting more pressure on the company to improve its capital position, Goldfarb tells investors in a research note. He believes the deal "places even more pressure" on Macerich to restore growth, while removing any investor hope that Simon could potentially give the company "another look."